Brazilian Reits Performance

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Brazilian REITs Performance

Author : Bruno Milani
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Brazilian REITs Performance by : Bruno Milani

Download or read book Brazilian REITs Performance written by Bruno Milani and published by . This book was released on 2016 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Estate investments have been used to provide diversification without increasing portfolio risk, although direct real estate investment has several disadvantages, such as low liquidity and high transaction costs, and Real Estate Investment Trusts (REITs) are an alternative investment aim to overcome these difficulties. This paper analyzes the REITs performance, comparing it to Ibovespa (proxy of market) and Ifix (Brazilian REITs proxy). For a better analysis we used the wavelet method, that allows to compare the results of different scales of time. Analyzing the wavelet transform, the REITs have significant coefficients when compared to the market, index Ibovespa, but considering the relationship between the REITs and the real estate funds, Ifix, influence happens in the long run. Market volatility has a negative effect in REITs returns in the long run, probably because a REITs investor tries to avoid risk. That's because maybe in the long run, REITs investors can change their investments to direct Real Estate if those are presenting better returns, what would reduce REITs demand and consequently, their price. It was noted that REITs returns are influenced by Real Estate companies returns in different scales, indicating that Brazilian REITs returns depend on market volatility. In a general way, this study showed that the relationships between REITs returns, Real Estate Companies returns and Market returns depend on the time scale analyzed, but they tend to be stronger at large scales. Differently of what was found by Milani and Ceretta (2014), Brazilian REITs returns can be better explained by Real Estate Sector Companies returns than by market returns, in the long run. Also, higher moments influence their returns and should be part of a model that tries to explain REITs returns.

Do Brazilian REITs Depend on Real Estate Sector Companies Or Overall Market?

Author : Bruno Milani
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Do Brazilian REITs Depend on Real Estate Sector Companies Or Overall Market? by : Bruno Milani

Download or read book Do Brazilian REITs Depend on Real Estate Sector Companies Or Overall Market? written by Bruno Milani and published by . This book was released on 2015 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Estate investments have been considered a good tool to provide diversification without increasing risk in a portfolio. Real Estate Investment Trusts (REITs) are a well-known investment alternative to many investors who want to invest in real estate minimizing the liquidity problem, since they have traded shares. However, the fact that REITs have traded shares brings the following question: are these shares driven by a “real estate factor” or they simply follow the overall market variation? This paper aims to discover whether Brazilian REITs return depend on the real estate companies return, on if they follow the overall market, or even any of the alternatives. The correlation between Ifix (Brazilian REITs proxy) and Imob (a Brazilian real estate sector index), as well as the correlation between Ifix and Ibovespa index, which represents the overall Brazilian market, were estimated by the Dynamic Conditional Correlation (DCC) model of Engle (2002).Our results show that both correlations were not significant, although the correlation between REITs and Ibovespa appear to be slightly higher than the one between REITs and Imob. These results, combined with the fact that Ifix index presents higher average return and smaller standard deviation, indicate that it may be interesting for the investor to include a Brazilian REIT share in his portfolio, since it would contribute to increase portfolio return without assuming more risk.

Brazilian Market Portfolio

Author : Cristina Tessari
Publisher : International Monetary Fund
ISBN 13 : 1475586744
Total Pages : 38 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Brazilian Market Portfolio by : Cristina Tessari

Download or read book Brazilian Market Portfolio written by Cristina Tessari and published by International Monetary Fund. This book was released on 2017-03-13 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, Brazil has achieved substantial progress in capital market development by building a diversified investor base and expanding the menu of available financial instruments. In this context, we evaluated the invested Brazilian market portfolio for a period spanning 2005–15. This is a portfolio of all assets proportionally weighted by their market capitalization, and it is divided in eight broad categories: government bonds, equities, bank funding bonds, corporate bonds, real-estate, agribusiness, private-equity, and credit bonds. While the paper focuses on stylized facts related to market size, composition weighting and changes over time, the estimated market portfolio contains important information for policy makers and market participants alike.

The Bovespa Index

Author : Helio de Paula Leite
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis The Bovespa Index by : Helio de Paula Leite

Download or read book The Bovespa Index written by Helio de Paula Leite and published by . This book was released on 1994 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Predictive Power of Brazilian Equity Fund Performance Using R2 as a Measure of Selectivity

Author : Marcelo Guzella
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Predictive Power of Brazilian Equity Fund Performance Using R2 as a Measure of Selectivity by : Marcelo Guzella

Download or read book Predictive Power of Brazilian Equity Fund Performance Using R2 as a Measure of Selectivity written by Marcelo Guzella and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aimed to investigate the impact of levels of selectivity on the performance of equity funds using a methodology applied for the first time ever in the Brazilian market. As an indicator of the activity level of a fund, we proposed the coefficient of determination (R2) of the regression of its returns over market returns. In total, 867 funds were analyzed in the period between November 2004 and October 2014. The hypothesis tested is that more selective funds perform better to compensate for their higher operating costs. This hypothesis was confirmed in the Brazilian market. Dynamic equally-weighted portfolios of funds were simulated, according to their past R2 and alphas, with monthly rebalancing and 12-month moving windows. The portfolio of the most selective funds had a Sharpe ratio of 0.0494, on a monthly basis, while the portfolio of the least selective funds had a Sharpe ratio of -0.0314. Performance was also higher in evaluations involving excess returns, Jensen's alpha, and accumulated returns, as well as when compared to randomly selected portfolios. Moreover, past performance (as measured by Jensen's alpha) was also a predictor of future performance.

The Routledge REITs Research Handbook

Author : David Parker
Publisher : Routledge
ISBN 13 : 1351664832
Total Pages : 306 pages
Book Rating : 4.3/5 (516 download)

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Book Synopsis The Routledge REITs Research Handbook by : David Parker

Download or read book The Routledge REITs Research Handbook written by David Parker and published by Routledge. This book was released on 2018-10-10 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge REITs Research Handbook presents a cutting-edge examination of the research into this key global investment vehicle. Edited by internationally respected academic and REIT expert Professor David Parker, the book will set the research agenda for years to come. The handbook is divided into two parts, the first of which provides the global context and a thematic review covering: asset allocation, performance, trading, sustainability, Islamic REITs, emerging sectors and behavioural finance. Part II presents a regional review of the issues with high level case studies from a diverse range of countries including the US, UK, Brazil, India, Australia, China, Singapore, Israel and Russia, to name just a few. This handbook redefines existing areas within the context of international REITs research, highlights emerging areas and future trends and provides postgraduates, professionals and researchers with ideas and encouragement for future research. It is essential reading for all those interested in real estate, international investment, global finance and asset management.

Easy Guide to Operate in the Brazilian Real Estate Market

Author : Flavio RISSATO
Publisher : Independently Published
ISBN 13 :
Total Pages : 101 pages
Book Rating : 4.7/5 (46 download)

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Book Synopsis Easy Guide to Operate in the Brazilian Real Estate Market by : Flavio RISSATO

Download or read book Easy Guide to Operate in the Brazilian Real Estate Market written by Flavio RISSATO and published by Independently Published. This book was released on 2021-04-29 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this guide, the content introduced will be about buying & selling, renting, financing, auction and consortium of real estate in Brazil, comparisons of historical returns (in real estate, Selic, IPCA, dollar and variable income), real estate funds, seasonal rental by Airbnb and Booking, analysis of optimal asset portfolios (containing properties), financial analysis of the payment of a housing installment with the rent received for making the property available for rent and a reflection with the options to buy a property in cash or finance it. The importance of keeping this guide is in the fact that it helps the reader in quick consultations on matters related to the operations of the real estate market, given that the content was optimally distributed throughout the volume. The printed Portuguese version of this guide can be purchased through the following link (a versão impressa em português deste guia pode ser adquirida por meio do link a seguir): https: //www.amazon.com/dp/B0915JT568

Brazilian Private Equity and Venture Capital Funds Performance from 1990 Until 2013

Author : Andrea Maria Accioly Fonseca Minardi
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Brazilian Private Equity and Venture Capital Funds Performance from 1990 Until 2013 by : Andrea Maria Accioly Fonseca Minardi

Download or read book Brazilian Private Equity and Venture Capital Funds Performance from 1990 Until 2013 written by Andrea Maria Accioly Fonseca Minardi and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the performance of Brazilian PE and VC funds between 1990 and 2013. We use Spectra-Insper database, with information about gross returns and multiple of money that General Partners report in Private Placement Memorandum or that are hand collected in CVM (Brazilian Security Exchange Comission) and commercial sources. We analyze performance of 47 funds. The average IRR of Brazilian funds is higher than the average of US funds in the period. We observe that Brazilian funds with vintage year between 1990 and 1997 on average underperform US PE funds, and with vintage between 1998 and 2008 outperform US PE funds. This pattern may reflect a learning curve in Brazilian PE industry. We find evidence that performance in Brazil has a higher cyclicality than in the US, but this may be due to the small sample size rather than the emerging market effect.

Brazil Watch

Author :
Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Brazil Watch by :

Download or read book Brazil Watch written by and published by . This book was released on 2007 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Intelligent REIT Investor

Author : Stephanie Krewson-Kelly
Publisher : John Wiley & Sons
ISBN 13 : 1119252768
Total Pages : 216 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis The Intelligent REIT Investor by : Stephanie Krewson-Kelly

Download or read book The Intelligent REIT Investor written by Stephanie Krewson-Kelly and published by John Wiley & Sons. This book was released on 2016-08-16 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The go-to guide for smart REIT investing The Intelligent REIT Investor is the definitive guide to real estate investment trusts, providing a clear, concise resource for individual investors, financial planners, and analysts—anyone who prioritizes dividend income and risk management as major components to wealth-building. The REIT industry experienced a watershed event when Standard & Poors created a new Global Industry Classification Standard (GICS) sector called Real Estate. Publicly traded equity REITs have been removed from Financials, where they have been classified since their creation in 1960, and have begun trading as their own S&P Sector. This separation from banks and financial institutions has attracted new investors, but REITs require an industry-specific knowledge that is neither intuitive nor readily accessible to newcomers—until now. Using straightforward language and simple example to illustrate important concepts, this book will enable any reader to quickly learn and understand the lexicon and valuation techniques used in REIT investing, providing a wealth of practical resources that streamline the learning process. The discussion explains terminology, metrics, and other key points, while examples illustrate the calculations used to evaluate opportunities. A comprehensive list of publicly-traded REITs provides key reference, giving you access to an important resource most investors and stockbrokers lack. REITs are companies that own or finance commercial rental properties, such as malls and apartment buildings. Despite historically high total returns relative to other investments, such as the Nasdaq or S&P 500 index, most investors are unfamiliar with the REIT industry, and wary of investing without adequate background. This book gets you up to speed on the essentials of REIT investing so you can make more informed—and profitable—decisions. Understand REITs processes, mechanisms, and industry Calculate key metrics to identify suitable companies Access historical performance tables and industry-specific terminology Identify publicly-traded REITs quickly and easily REITs have consistently outperformed many more widely known investments. Over the past 15-year period, for example, REITs returned an average of 11% per year, better than all other asset classes. Since 2009, REITs have enjoyed positive returns; large cap stocks and cash are the only other classes that paralleled that record. Even in 2015, a 'year of fear' related to rising rates, REITs returned 2.4%, beating most all other asset classes. REITs have a long history (over fifty years) of performance, and have entered the big leagues. If you feel like you've been missing out, don't keep missing out. Prepare yourself, and your portfolio, to benefit from the demand for REITs that have followed the creation of a Real Estate GICS sector. The Intelligent REIT Investor gives you the information you need to invest wisely and manage your real estate risk effectively. By maintaining a tactical exposure in the brick and mortar asset class, investors should benefit from the information contained in The Intelligent REIT Investor. Join the REIT world and look forward to owning stocks that will help you to sleep well at night.

The Construction Industry in the Fourth Industrial Revolution

Author : Clinton Aigbavboa
Publisher : Springer
ISBN 13 : 3030265285
Total Pages : 608 pages
Book Rating : 4.0/5 (32 download)

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Book Synopsis The Construction Industry in the Fourth Industrial Revolution by : Clinton Aigbavboa

Download or read book The Construction Industry in the Fourth Industrial Revolution written by Clinton Aigbavboa and published by Springer. This book was released on 2019-08-09 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gathers papers from the 11th Construction Industry Development Board (cidb) Postgraduate Research Conference, held on 28–30 July 2019 in Johannesburg, South Africa. The conference provided an essential forum for reviewing and generating knowledge on Construction 4.0 and, consequently, highlighted processes and practices that allow us to deliver and operate built environment assets more effectively and efficiently by focusing on physical-to-digital and digital-to-physical transformation. The event addressed three broad themes: Industrial production (prefabrication, 3-D printing and assembly, offsite and advanced manufacturing); Cyber-physical systems (actuators, sensors, IoT, robots and cobots for repetitive and dangerous tasks, and drones for mapping, progress monitoring, safety and quality inspections, lifting, moving and positioning); and Technologies (digital ecosystems, digital platforms, BIM, video and laser scanning, AI and cloud computing, big data and data analytics, reality capture, blockchain, simulation, virtual and augmented reality, data standards and interoperability, and vertical and horizontal integration). Given its scope, the book will be of interest to all construction industry and architectural professionals who want to learn about cutting-edge technologies applied to construction

Investing in REITs

Author : Ralph L. Block
Publisher : Bloomberg Press
ISBN 13 : 1576601935
Total Pages : 384 pages
Book Rating : 4.5/5 (766 download)

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Book Synopsis Investing in REITs by : Ralph L. Block

Download or read book Investing in REITs written by Ralph L. Block and published by Bloomberg Press. This book was released on 2006-01-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consistency of REITs' earnings and their high dividend yields, together with the low correlation of REIT stock prices with prices of other asset classes, make real estate investment trusts a unique opportunity for investors. Drawing on more than thirty years of successful investing experience with REITs, Ralph L. Block has created the ultimate REIT guide. This third edition, fully updated, explains the ins and outs of this attractive asset class in an uncomplicated style that makes it easy for novice and professional investors, as well as financial planners and investment advisers, to find what they need to know. This new edition offers the following: How to spot blue-chip REITs and control investment risk How REITs compare with other investments How to build a diversified REIT portfolio, directly or with REIT mutual funds Understanding the risk-and-reward dynamics of commercial real estate Important new developments and strategies in the REIT industry

Foundations of Global Financial Markets and Institutions, fifth edition

Author : Frank J. Fabozzi
Publisher : MIT Press
ISBN 13 : 0262039540
Total Pages : 1105 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Foundations of Global Financial Markets and Institutions, fifth edition by : Frank J. Fabozzi

Download or read book Foundations of Global Financial Markets and Institutions, fifth edition written by Frank J. Fabozzi and published by MIT Press. This book was released on 2019-04-30 with total page 1105 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thoroughly revised and updated edition of a textbook for graduate students in finance, with new coverage of global financial institutions. This thoroughly revised and updated edition of a widely used textbook for graduate students in finance now provides expanded coverage of global financial institutions, with detailed comparisons of U.S. systems with non-U.S. systems. A focus on the actual practices of financial institutions prepares students for real-world problems. After an introduction to financial markets and market participants, including asset management firms, credit rating agencies, and investment banking firms, the book covers risks and asset pricing, with a new overview of risk; the structure of interest rates and interest rate and credit risks; the fundamentals of primary and secondary markets; government debt markets, with new material on non-U.S. sovereign debt markets; corporate funding markets, with new coverage of small and medium enterprises and entrepreneurial ventures; residential and commercial real estate markets; collective investment vehicles, in a chapter new to this edition; and financial derivatives, including financial futures and options, interest rate derivatives, foreign exchange derivatives, and credit risk transfer vehicles such as credit default swaps. Each chapter begins with learning objectives and ends with bullet point takeaways and questions.

Industrial Engineering and Operations Management

Author : Victor Manuel López Sánchez
Publisher : Springer Nature
ISBN 13 : 3031147634
Total Pages : 425 pages
Book Rating : 4.0/5 (311 download)

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Book Synopsis Industrial Engineering and Operations Management by : Victor Manuel López Sánchez

Download or read book Industrial Engineering and Operations Management written by Victor Manuel López Sánchez and published by Springer Nature. This book was released on 2022-11-22 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings volume convenes peer-reviewed, selected papers presented at the XXVIII International Joint Conference on Industrial Engineering and Operations Management (IJCIEOM) that was held in Mexico City, Mexico, July 17-20, 2022, with a special focus on applications of industrial engineering and operations management for research and practice. Fields covered include operations, manufacturing, industrial and production engineering and management, emphasizing optimization models and data science applications to real-world problems. In this book, the reader will find works on topics as optimization models; stochastic optimization; digital transformation in the supply chain; data science applications in operations management; Industry 4.0: manufacturing planning & control; blockchain; intelligent transportation systems; sustainable and reverse logistics; big data and demand planning; predictive and prescriptive analytics; last-mile delivery optimization; stochastic inventory models; new trends in information technology for operation management; stochastic optimization; optimization models for omnichannel; safety in operation management; and more. This volume includes relevant information for academics, since most of the chapters focus on real-world case studies and systematic reviews, but also for professionals in the industrial sector as it presents solutions to complex industrial challenges. Previous 2018, 2019, 2020, and 2021 IJCIEOM proceedings can also be found in Springer's catalog.

Real Estate and Urban Development in South America

Author : Claudia Murray
Publisher : Routledge
ISBN 13 : 1317289056
Total Pages : 214 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis Real Estate and Urban Development in South America by : Claudia Murray

Download or read book Real Estate and Urban Development in South America written by Claudia Murray and published by Routledge. This book was released on 2017-12-14 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Estate and Urban Development in South America uncovers how investors are navigating South American real estate markets in commercial, residential and infrastructure development. A preferred location for real estate development during the colonial era, in recent decades South America has been seen as high-risk for global real estate investors. This book explores the strengths and weaknesses of real estate markets in the region, concluding that with careful implementation of the correct development strategies, the region can once again take its place at the centre stage of global real estate investment. Comparing the economics and market maturity of South American countries in turn, the authors draw out the particular contexts in which investors and developers operate in mature and emerging markets. Bridging the gap between theory and practice, analysis of local development policies, legislation, valuation methods and taxation is supplemented with case studies from key players in the region’s major cities. The first full overview of real estate markets in South America, this book will be an essential guide for investors, policy makers, academics and students with an interest in this this rapidly evolving region.

Brazil

Author :
Publisher :
ISBN 13 :
Total Pages : 488 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Brazil by :

Download or read book Brazil written by and published by . This book was released on 1981-08 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Level Strategy

Author : Olivier Furrer
Publisher : Routledge
ISBN 13 : 1317928105
Total Pages : 299 pages
Book Rating : 4.3/5 (179 download)

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Book Synopsis Corporate Level Strategy by : Olivier Furrer

Download or read book Corporate Level Strategy written by Olivier Furrer and published by Routledge. This book was released on 2016-04-13 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: The challenges faced by diversified corporations—firms that operate in more than one industry or market—have changed over the years. In this new edition, Olivier Furrer helps students of corporate strategy to consider the impact of critical changes in resources, businesses and headquarters roles on the firm’s ability for establishing and sustaining corporate advantage. New to this edition are stimulating pedagogical features and additional material such as a new chapter on the theoretical foundations of multibusiness firms, along with a host of new examples from across the world. A companion website supplements the book, providing PowerPoint slides, a test bank of questions, and lists of suggested case studies.